The real reason Middlesbrough are selling Hayden Hackney as ‘Steve Gibson owed £14m’

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The financial implications of Middlesbrough selling Hayden Hackney this summer have been discussed by EFL Analysis’ finance expert.

It’s been known for some time now that Hayden Hackney would almost certainly be leaving Middlesbrough this summer.

A plethora of clubs, including Manchester United, Tottenham Hotspur, and Everton, have shown interest in the midfielder.

But EFL Analysis understands Middlesbrough have agreed a deal in principle for Hackney with Ipswich Town.

It’s our understanding that the offer is an initial £15m, but could rise to £20m with add-ons.

Financial impact of Middlesbrough selling Hayden Hackney to Ipswich

Now, we have spoken to our finance expert, Adam Williams, to gain an insight into the financial implications of selling the Englishman.

Hackney is an academy product, so all money made from a sale would be pure profit for Middlesbrough.

Boro have one of the highest wage bills in the Championship, and Williams has shared that chairman Steve Gibson is owed nearly £14m by the club.

On how Hackney leaving will impact Middlesbrough’s finances, Williams said: “Boro are in the green with regards to their net transfer spend across 2024-25 and so far in 2025-26. With the Hackney fee, they’re going to be significantly up.

“Steve Gibson is already owed just under £14m by the club and has written off around £130m in loans. He’s funding the club and underwriting the losses they make year-on-year. That’s a significant portion of his wealth and his liquid cash.

“Without promotion to the Premier League, that’s money he’s never going to make back. So if they can generate a player trading surplus, it means he doesn’t have to use his own cash. At least, not to the same extent.

“He may well choose to reinvest the Hackney cash and then increase the loans to the club to cover the excess – I don’t know. But it wouldn’t massively surprise me if Gibson has, not reached his limit, but is going to be more conservative in terms of how the club is funded.

“They have one of the Championship’s biggest wage bills outside the parachute payment clubs, and their wages-to-turnover ratio was 97 per cent at the last count. On top of that, you’ve got about £20m of other expenses per season.

“It’s very, very expensive to own a Championship football club. It’s not an investment I’d make.”

Where Hayden Hackney will rank in Middlesbrough’s biggest sales

As we have already shared, Hackney is yet to decide if he wants to join Ipswich or not, as he’s keen to play top-flight football.

But, should he move, he will be one of the most expensive sales in Middlesbrough’s history.

The £22.5m netted for Emmanuel Latte Lath in January is Boro’s biggest departure currently.

Including add-ons, Hackney will take second place on the list, just behind Adama Traore.